Boston University Law School professor Tamar Frankel spoke to the
Times about her new book "The Ponzi Scheme Puzzle: A
History And Analysis of Con Artists and Victims."

In many cases, she said, Ponzi scheme victims should have spotted
red flags that would have helped them avoid getting scammed in
the first place.

One of those red flags should pop up when schemers tell victims
they're making their investments available to only a "select
few," Frankel told the Times.

"Look around you, and you see hedge funds, mutual funds, private
equity funds, and advisers all salivating for more clients,"
Frankel said. "Yet, there are those who believe the more unique
and hard to get an investment is, the more valuable it is. That's
gullibility – because it's not rational to believe that."